A passage with three blanks,followed by five options, each containingone word, is given. Choose the word thatcan fill all the three blanks.
An __________ is a process of buyingand selling goods or services by offeringthem up for bid, taking bids, and thenselling the item to the highest bidder.Participants bid openly against oneanother, with each subsequent bidrequired to be higher than the previousbid. An auctioneer may announce prices,bidders may call out their bidsthemselves (or have a proxy call out abid on their behalf), or bids may besubmitted electronically with the highestcurrent bid publicly displayed. In aDutch ____________, the auctioneerbegins with a high asking price for somequantity of like items; the price islowered until a participant is willing toaccept the auctioneer's price for some quantity of the goods in the lot or untilthe seller's reserve price is met. Ineconomic theory, an ____________may refer to any mechanism or set oftrading rules for exchange.

A passage with three blanks,followed by five options, each containingone word, is given. Choose the word thatcan fill all the three blanks.
An __________ is a process of buyingand selling goods or services by offeringthem up for bid, taking bids, and thenselling the item to the highest bidder.Participants bid openly against oneanother, with each subsequent bidrequired to be higher than the previousbid. An auctioneer may announce prices,bidders may call out their bidsthemselves (or have a proxy call out abid on their behalf), or bids may besubmitted electronically with the highestcurrent bid publicly displayed. In aDutch ____________, the auctioneerbegins with a high asking price for somequantity of like items; the price islowered until a participant is willing toaccept the auctioneer's price for some quantity of the goods in the lot or untilthe seller's reserve price is met. Ineconomic theory, an ____________may refer to any mechanism or set oftrading rules for exchange. Correct Answer Auction

‘Assets’ mean things that have earning power or some other value to their owner. ‘Auction’ means a public sale in which goods or property are sold to the highest bidder. ‘Autarky’ refers to the idea that a country should be self-sufficient and not take part in international trade. ‘Arbitrage’ means the simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset. ‘Amortisation’ means the running down or payment of a loan by instalments. The given passage includes the presence of an ‘auctioneer’ who is defined as a person who conducts auctions by accepting bids and declaring goods sold. Thus, option 2 is the correct fit for all three blanks.

Related Questions

A passage is given with five questions following it. Read the passage carefully and select the best answer to each question out of the given fouralternatives. Teaching about compassion and empathy in schools can help deal with problems of climate change and environmental degradation,” says Barbara Maas, secretary,
Standing Committee for Environment and Conservation, International Buddhist Confederation (IBC). She was in New Delhi to participate in the IBCs governing
council meeting, December 10-11, 2017. “We started an awareness campaign in the year 2005-2006 with H H The Dalai Lama when we learnt that tiger skins were
being traded in China and Tibet. At that time, I was not a Buddhist; I wrote to the Dalai Lama asking him to say that this is harmful and he wrote back to say, “We
will stop this.” He used very strong words during the Kalachakra in 2006, when he said, If he sees people wearing fur and skins, he doesnt feel like living. This sent
huge shock waves in the Himalayan community. Within six months, in Lhasa, people ripped the fur trim of their tubba, the traditional Tibetan dress. The messenger was ideal and the audience was receptive,” says Maas who is a conservationist. She has studied the battered foxs behavioral ecology in Serengeti,Africa. She heads the endangered species conservation at the Nature and Biodiversity Conservation Union (NABU) International Foundation for Nature, Berlin. “I met Samdhong Rinpoche, The Karmapa, HH the Dalai Lama and Geshe Lhakdor and I thought, if by being a Buddhist, you become like this, I am going for it, “says Maas, who led the IBC initiative for including the Buddhist perspective to the global discourse on climate change by presenting the statement, The Time to Act is Now: a Buddhist Declaration on Climate Change, at COP21 in Paris. “It was for the first time in the history of Buddhism that leaders of different sanghas came together to take a stand on anything! The statement lists a couple of important things: the first is that we amass things that we dont need; there is overpopulation; we need to live with contentment and deal with each other and the environment with love and compassion,” elaborates Maas. She is an ardent advocate of a vegan diet because “consuming meat and milk globally contributes more to climate change than all "transport in the world.” Turning vegetarian or vegan usually requires complete change of perspective before one gives up eating their favorite food. What are the Buddhist ways to bringabout this kind of change at the individual level? “To change our behavior, Buddhism is an ideal vehicle; it made me a more contented person,” says Maas, who grewup in Germany, as a sausage chomping, meat-loving individual. She says, “If I can change, so can anybody”. According to the passage, how can studying compassion and empathy in schools help?